According to a report from the Federation of Indian Chambers of Commerce & Industry and Ernst & Young, revenue from online gaming increased by 28 per cent.
India.- A report from the Confederation of Indian Chambers of Commerce and Industry (FICCI) and Ernst & Young (EY) has found that the number of players paying for online gaming in India has grown 17 per cent from 80 million in 2020 to 95 million in 2021.
The total number of online gaming players increased by 8 per cent from 360 million to 390 million. By 2023, the number is expected to exceed 450 million. According to the report, the annual revenue of the online gaming segment in India grew by 28 per cent, from Rs79bn in 2020 to Rs101bn in 2021.
Transaction-based game sales rose 26 per cent, driven by an interest in real-money games such as rummy and fantasy sports. Casual and e-sports revenue grew 32 per cent due to expanded in-app purchases.
Ashish Pherwani, entertainment head, EY India said the growth in online gaming spending was attributable to regular users spending more time and an increase in the number of new players in India. He also drew attention to factors that have led some states to lift restrictions on gaming.
Some states, including Karnataka, Kerala and Tamil Nadu, lifted restrictions on transaction-based gaming in 2021 after some gambling groups went to the Supreme Court.
In February, the Karnataka state government‘s attempt to ban all forms of gambling in the state was overturned by the Karnataka High Court. Last September, the Kerala High Court rejected the state government’s attempt to ban online rummy, arguing that it was a skill-based game and therefore protected by the Indian Constitution.